November 12, 2008

Financial Report for the First Half of Fiscal 2008
This document has been translated from the Japanese original, for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
Listed company name:
Japan Airport Terminal Co., Ltd.
Code number:
9706
Listing exchange:
Tokyo, 1st Section
Representative:
Isao Takashiro, President
Contact:
Shokichi Ishiguro, Senior Managing Director
Scheduled date of securities report submission:
November 12, 2008
Payment date of cash dividends:
December 4, 2008

URL:

http://www.tokyo-airport-bldg.co.jp/

TEL:03-5757-8030（Figures shown are rounded down to the nearest million yen.）
1. Consolidated Financial Results for the First Half of Fiscal 2008 (April 1, 2008 to September 30, 2008)(1) Consolidated Business Results(Percentage figures indicate the rates of increase or decrease compared with the previous first half year.)

Operating revenues
Millions of yen

69,08969,695H1 FY2008
H1 FY2007

Operating income%

Millions of yen

5.2

3,900
4,454

—

Millions of yen

15.2

4,207
4,403

—

Yen

Millions of yen

13.8

2,363
2,185

—

%

—

21.7

Yen

23.53
21.76

—
—

(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

H1 FY2008
FY2007(Reference) Equity capital

Net income%

Diluted net income pershare

Net income per share
H1 FY2008
H1 FY2007

Ordinary income%

183,879
189,126

H1 FY2008: ¥119,817 million

Net assets per share

Equity ratio

Millions of yen%

122,922
121,699

Yen

65.2
62.7

FY2007: ¥118,606 million

1,192.79
1,180.73

2. Dividends
Dividends per share
3Q EndYen
Yen
FY20075.00——
FY20086.50——
FY2008 (projection)———(Note) Revision of the above forecast has not made in the period under review.
(Record date)

H1 End1Q EndYear-End
Yen

Annual
Yen

Yen

8.00
—

13.00
—

6.50

13.00

3. Forecast of Consolidated Business Results for the Year Ending March 31, 2009 (April 1, 2008 to March 31, 2009)(Percentage figures represent changes from the previous year.)

Operating revenues

Full-year

Operating income

Ordinary income

Net income pershare

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen136,200

(2.3)

7,100

(8.1)

7,400

(5.6)

4,200

1.2

41.81

(Note)The Company revised above forecast in the period under review.
4. Other Information(1) Significant changes in subsidiaries during the period under review (changes in specific subsidiaries involving changes in scopeof consolidation): None
(2) Adoption of simplified accounting methods and specific methods for quarterly accounting: Yes(Note) For details, please refer to “4. Other Information” on page 5 under the “Quantitative Information / Financial
Statements” section.
(3) Changes in accounting principles, procedures, and the display method of presentation associated with preparation of theconsolidated financial statements (matters to be included in the section, "Change in Basic Conditions to Prepare Consolidated
Financial Statements")
1) Changes due to revisions of accounting standards, etc.: Yes
2) Change other than 1): None
(Note) For details, see “4. Other Information” on page 5 under the “Quantitative Information / Financial Statements” section.
(4) Number of shares outstanding (common stock)1) Number of shares outstanding as of the period-end(including treasury stock)2) Number of treasury stock as of the period-end
3) Average number of shares outstanding

H1 FY2008:

100,540,000 shares

FY2007:

100,540,000 shares

H1 FY2008:
H1 FY2008:

88,668 shares
100,451,475 shares

FY2007:H1 FY2007:

88,408 shares
100,452,468 shares-1-

*Statements regarding the proper use of financial forecast and other special remarks
1. The Company has revised its consolidated financial forecast for FY2008, originally announced May 14, 2008.
2. The forecast were made based on information available at the time the material was released, and actual earnings may differ
from the forecast for various reasons.
3. For details of assumptions for financial forecast and other related matters, refer to “3. Qualitative information on Consolidated
Performance Forecast” on page 4 under the “Quantitative Information / Financial Statements” section.
4. Effective from the fiscal year ending March 31, 2009, the company adopted the Accounting Standard for Quarterly Financial
Reporting (ASBJ Statement No. 12) and Guidance on the Accounting Standard for Quarterly Financial Reporting (ASBJ
Guidance No. 14). The company prepares its Quarterly Consolidated Financial Statements in accordance with the “Quarterly
Consolidated Financial Accounting Rules.”(Reference) Forecast of Non-Consolidated Business Results for the Year Ending March 31, 2009 (April 1, 2008 to March 31, 2009)(Percentage figures represent changes from the previous year.)

Operating revenues

Full-year

Operating income

Ordinary income

Net income pershare

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

110,100

(2.2)

5,300

(8.1)

5,500

(9.1)

3,200

6.8

31.86

(Note) The Company revised above forecast in the period under review.
*Statements regarding the proper use of financial forecast and other special remarks
1. The Company has revised its non-consolidated financial forecast for FY2008, originally announced May 14, 2008.
2. The forecast were made based on information available at the time the material was released, and actual earnings may differ
from the forecast for various reasons.

-2-

Qualitative Information / Financial Statements
1. Qualitative Information on Consolidated Business Performance
During the first half of the current fiscal year, the Japanese economy was impacted by the financial crisis thatoriginated in the U.S. and has spread throughout the world, in particular Europe, and stagnated as a corporate
earnings and consumer spending trended downward.
The airline industry faced overall harsh conditions, including high crude oil prices (although they have fallen
recently), a decline in consumer sentiment following jumps in the price of goods and greater uncertainty about the
future, volatility in the foreign exchange market, and a decline in the number of passengers on international routes
due to instability overseas, such as food problems in China and the Sichuan earthquake.
Under these conditions, Japan Airport Terminal (JAT) Group continued to focus all its energy on implementing
stricter safety measures at the passenger terminal buildings, thoroughly adopted a philosophy of “the customer
comes first,” and strove to further improve service.
In response to the business environment that it finds itself in, the JAT Group moved forward with measures toinvigorate operations, and rationalize and increase the efficiency of business, and these measures included
organizational changes in order to rapidly and powerfully further increase corporate value, expansion andrenovation of the International Terminal Building at the Tokyo International Airport (Haneda), and renovation of
the JAT Group’s duty free shops at the Narita International Airport. In addition, the JAT Group strove to expand
its business and strengthen its sales base. With the number of passengers declining and the economy stagnating,consolidated operating revenues for the first half year fell 0.9% compared with the previous half year to ¥69,089
million, and operating income fell 12.4% to ¥3,900 million, and ordinary income declined 4.4% to ¥4,207 million.
Net income for the first half year rose 8.1% to ¥2,363 million owning to a decrease in income tax adjustments.
The following is a breakdown of earnings by segment.
[Facilities Management]
Rent revenue and facility user charges revenue were firm due to several factors such as contributions from theincrease in passengers following the launch of international charter flights between Haneda and Shanghai(Hongqiao Airport) and between Haneda and Hong Kong. In addition, other revenues were healthy as a result of anincrease in the number of vehicles using parking facilities following the opening of the P4 simple multi-story
parking garage and an increase in the number of users of the for-pay waiting room Airport Lounge.
As a result, operating revenues from the facilities management operations grew 2.6% compared with theprevious first half year to ¥20,463 million and operating income expanded 26.0% to ¥1,401 million.
[Merchandise Sales]
As for stores in the domestic terminals, the JAT Group worked to promote sales, which included conducting
aggressive event related sales activities for new and seasonal products, and broadened its sales base at a time ofstagnant growth in the number of passengers on domestic routes. However, sales declined compared with theprevious first half year for various reasons including operational changes at some stores and a decline in vending
machine sales following the introduction of cigarette vending machines that can recognize adults.
In regard to stores in the International Terminal, the JAT Group strove to expand sales by promoting sales toforeign visitors, enhancing Internet-based advanced order service for duty free products, and aggressively
increasing sales through store renovations. Sales at duty free stores in the Tokyo International Airport (Haneda)
were healthy as the number of passengers rose following the launch of international charter flights between
Haneda and Shanghai (Hongqiao Airport) and between Haneda and Hong Kong, but sales at the JAT Group’s
stores in Narita International Airport fell compared with the previous first half year because of a dramatic decline
in the number of passengers and the impact of store closings for renovations.
Other merchandise sales declined as wholesale sales at Narita International Airport and Kansai International
Airport were impacted by several factors such as the dramatic decline in the number of passengers.
Therefore, operating revenues from merchandise sales operations decreased 2.6% compared with the previous
first half year to ¥42,166 million and operating income fell 9.7% to ¥4,127 million.
[Food and Beverage]
Restaurant sales increased compared with the previous first half year for several reasons including contributions
from the expansion of restaurants at the International Terminal Building of the Tokyo International Airport(Haneda).
Sales of in-flight meals decreased as business conditions deteriorated, which included airline companies reducing
costs due to the harsh business environment, such as jumps in the price of crude oil, and the number of in-flightmeals provided falling for various reasons such as reductions in the amount of equipment allowed on downsizedplanes.
Therefore, operating revenues from food and beverage operations rose 0.4% compared with the previous first halfyear to ¥8,943 million; however, operating income shrank 39.0% to ¥195 million on account of increase in foodstuff
prices and depreciation expenses for newly introduced in-flight meal loading vehicle for the A380 jumbo jet.
Changes compared with the previous first half year have been provided as reference.

-3-2. Qualitative Information on Consolidated Financial Position(1) Status of assets, liabilities and net assets

Total assets shrank ¥5,246 million compared with the previous fiscal year to ¥183,879 million for some reasons
including a fall in tangible fixed assets of ¥2,625 million as a result of a fall in building, and decline in cash andtime deposits. Nevertheless, long-term loans receivable has increased.
Total liabilities fell ¥6,469 million compared with the previous fiscal year to ¥60,957 million because of adecline in accrued expenses and loans payable.
Net assets increased ¥1,223 million compared with the previous fiscal year to ¥122,922 million because of anincrease in retained earnings of ¥1,559 million.
Therefore, the equity ratio was 65.2%.

(2) Status of Cash flows

Cash and cash equivalents (hereinafter referred to as “cash”) at the end of the first half year fell ¥5,418 million
compared to the previous first half year, to ¥10,669 million. The following is a summary of various cash flows andthe factors behind the flows for the first half of FY2008.
1) Cash flows from operating activities
Cash generated from operating activities fell 3.3% from the previous half year, or ¥245 million to ¥7,091
million.
This is mainly attributable to an increase in other current assets.
2) Cash flows from investing activities
Cash used for investing activities increased 4.2% from the previous half year, or ¥275 million, to ¥6,814
million.
This was mainly due to an increase in long-term loans receivable and purchase of marketable securities,
although there was no purchase of stocks of affiliates.
3) Cash flows from financial activities
Cash used for financing activities was ¥5,695 million, increased 6.6% from the previous half year, or ¥354
million. This was mainly due to an increase in dividends payment, reflecting increase of dividends distribution.

3. Qualitative Information on Consolidated Performance Forecast
Taking into consideration not only the risk of a weaker economy as a result of several factors including worseningof the global financial crisis and instability in the stock and foreign exchange markets but also the fact that the
number of passengers has fallen below initial projections, forecast for consolidated earnings announced on May 14,
2008, have been revised in the following manner: consolidated operating revenues is projected to decline 2.3%
compared with the previous first half year to ¥136,200 million, operating income is expected to fall 8.1% to ¥7,100
million, ordinary income is forecast to shrink 5.6% to ¥7,400 million, and net income is projected to grow 1.2%
compared with the previous first half year to ¥4,200 million.
The JAT group is actively working to achieve the targets in the medium-term business plan, which was set in
May 2007 and the last year of which is 2009, is aiming to increase corporate value, and striving to implement
further measures.

-4-4. Other Information(1) Significant changes in subsidiaries during the period under review (changes in specificsubsidiaries involving changes in scope of consolidation): None
(2) Adoption of simplified accounting methods and specific methods for quarterly accounting:1) Method used to value inventories
Inventories at the end of the first half of the current fiscal year are calculated using a reasonable estimate based on
the physical inventory amount at the previous fiscal year-end, in lieu of performing physical inventory count. In
addition, the carrying amount of inventories is reduced to estimated net selling value only where there is an obvious
decrease in profitability.
2) Method of calculating depreciation of fixed assets
For assets depreciated using the declining balance method, depreciation expenses applicable to the first half of the
fiscal year are calculated on a pro-rata basis.
3) Calculation of tax expenses
Tax expenses are calculated by making a reasonable estimation of the effective tax rate on income before income
taxes for the fiscal year including the first half after the application of deferred tax accounting and applying theestimated effective tax rate to quarterly income before income taxes.

(3) Changes in accounting principles, procedures, and the display methods of presentation
associated with preparation of the consolidated financial statements:
1) Application of “Accounting Standard for Quarterly Financial Reporting”
Starting from the first quarter of the current fiscal year, the JAT Group is applying the Accounting Standard for
Quarterly Financial Reporting (Accounting Standards Board of Japan Statement No.12) and Guidance on
Accounting Standard for Quarterly Financial Reporting（Accounting Standards Board of Japan Guidance No.14）.
Quarterly Consolidated Financial Statements are compiled in accordance with the Quarterly Consolidated
Financial Accounting Rules.
2) Changes in the valuation standards and methodology for inventories
Inventories of parent company’s which is held for ordinary sales were previously stated at cost determined by theretail cost method. However, in line with the application of the “Accounting Standard for Measurement of
Inventories” (ASBJ Statement No. 9, July 5, 2006) from the first quarter of current fiscal year, onward, inventories
held for ordinary sales are stated at cost determined by the retail cost method (book value stated in a balance sheet
is written down in accordance with a decline in profitability).
Inventories of consolidated subsidiaries’ held for ordinary sales were previously stated at cost determined by thelast purchase price. However, in line with the application of the “Accounting Standard for Measurement of
Inventories” (ASBJ Statement No. 9, July 5, 2006) from the first quarter of current fiscal year, onward, inventories
held for ordinary sales are stated at cost determined by the last purchase price (book value stated in a balance sheet
is written down in accordance with a decline in profitability).This change has no material impact on profits.
(Additional Information)
The useful life of machines and equipment owned by JAT and its affiliated companies has been reviewed andchanged since the first quarter of the current fiscal year as revisions were made to the Corporate Tax Law. Thechanges will have only a minor impact on profits.

-5-5. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(In million yen)

As of September 30, 2008

[Reference]
As of March 31, 2008

Cash and time deposits

10,794

16,149Accounts receivable

6,747

6,353

Valuable securities

2,847

1,998

Merchandise and finished products

3,811

3,788

128

131

Deferred tax assets

1,171

1,172

Other current assets

2,133

1,148

(39)

(57)

27,59330,684ASSETS
Current assets

Raw materials and stored goods

Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation andimpairment loss

239,132

236,345(124,316)(118,376)

Buildings and structures, net

114,816

117,969

Machines, devices and vehicles
Accumulated depreciation andimpairment loss

10,46010,341(8,456)(8,172)

2,004

2,168

Land

9,010

8,612

Construction in progress

1,176

524

Other fixed assets
Accumulated depreciation andimpairment loss

20,162

19,832(14,800)(14,112)

Other fixed assets, net

5,361

5,720

Total tangible fixed assets

132,368

134,994

624

697

Investment in securities

12,713

13,823

Deferred tax assets

7,295

7,035

Other investments

3,283

1,890

Total investments and other assets

23,292

22,749Total fixed assets

156,286

158,441

TOTAL ASSETS

183,879

189,126

Machines, devices and vehicles, net

Intangible fixed assets
Investments and other assets-6-

(In million yen)
As of September 30, 2008

[Reference]
As of March 31, 2008

Accounts payable

4,844

4,897

Short-term loans payable

9,570

9,929

Income taxes payable

1,972

2,509

Allowance for employee bonuses

1,115

890

Allowance for directors’ bonuses

94

196

Other current liabilities

8,556

9,765

Total current liabilities

26,15328,188Long-term loans payable
Allowance for employees’ retirement
benefits

20,04824,544

8,405

8,422

Allowance for directors’ retirement benefits

1,255

1,210

Other fixed liabilities

5,095

5,060

Total fixed liabilities

34,80339,238TOTAL LIABILITIES

60,95767,426

Common stock

17,48917,489

Capital surplus

21,31021,309Retained earnings

79,64578,086(80)(79)

118,364

116,805

Unrealized gains on other securities

1,471

1,835

Deferred gains (losses) on hedges

(18)

(34)

1,452

1,800

3,104

3,093

TOTAL NET ASSETS

122,922

121,699

TOTAL LIABILITIES AND NET ASSETS

183,879

189,126

LIABILITIESCurrent liabilities

Fixed liabilities

NET ASSETS
Shareholders’ equity

Treasury stock
Total shareholders’ equity
Unrealized gains and adjustments

Total unrealized gains and adjustments
Minority interests-7-(2) Consolidated Statements of Income(In million yen)First Half of FY2008
April 1, 2008‒September 30, 2008
Operating revenues
Rent revenue

7,161

Facility user charges revenue

8,020

Other revenues

4,386

Sale of merchandise

41,643

Sale of food and beverage

7,878

Total operating revenue

69,089

Cost of sales
Cost of sales of merchandise

30,498

Cost of sales of food and beverage

4,087

Total cost of sales

34,585Gross profit

34,504

Selling, general and administrative expenses
Salary3,361

Reserve for bonuses to employees

1,098

Reserve for bonuses to directors

94

Expenses for retirement benefits

381

Reserve for directors and corporate benefits

121

Rent expense

3,949

Outsourcing and commission

3,979

Depreciation expense

7,330

Other costs and expenses

10,288

Total selling, general and administrative expenses

30,603Operating income

3,900

Non-Operating income
Interest income

28

Dividend income

124

Investment profit with equity method

161

Miscellaneous revenue

450

Total non-operating income

764

Non-Operating expenses
Interest expenses

384

Miscellaneous expenses

73

Total non-operating expenses

457

Ordinary income

4,207

Income before income taxes

4,207

Income, inhabitant and business taxes

1,792

Minority interests income

51

Net income

2,363

-8-

(3) Consolidated Statements of Cash Flows(In million yen)

Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for employees’ retirement
benefits
Increase (decrease) in allowance for directors’ retirement
benefits
Increase (decrease) in allowance for employees’ bonuses
Increase (decrease) in allowance for directors’ bonuses
Interest and dividends received
Interest paid
Equity in (earnings) losses of affiliates
Loss (gain) on sales of tangible fixed assets
Loss (gain) on retirement of tangible fixed assets
Decrease (increase) in accounts receivable
Decrease (increase) in inventories
Increase (decrease) in other current assets
Increase (decrease) in accounts payable
Increase (decrease) in other current liabilities
Increase (decrease) in other fixed liabilities
OthersSubtotalInterest and dividend income received
Interest expenses paid
Income and other taxes paid
Net cash provided by operating activities
Cash flows from investing activities
Placement of time deposits
Purchase of marketable securities
Proceeds from sales of marketable securities
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of tangible fixed assets
Proceeds from sales of tangible fixed assets
Purchase of intangible fixed assets
Purchase of long-term prepaid expenses
Payments of long-term loans receivableCollections of long-term loans receivable
OthersNet cash used in investing activities
Cash flows from financing activities
Repayment of long-term loans payable
Dividend payment by parent company
Dividend paid to minority shareholders
OthersNet cash used in financing activities
Effect of exchange rate change on cash and cash equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of term
Cash and cash equivalents at end of term

-9-First Half of FY2008
April 1, 2008‒September 30, 2008
4,207
7,341

(17)
44
224
(101)
(153)
384
(161)
(9)
56
(394)
(18)
(919)
(53)
(841)
62
(21)
9,628
149
(351)
(2,335)
7,091(263)(1,895)
1,499
(5)
400
(5,047)12(54)(3)(1,333)10(132)(6,814)(4,855)
(803)
(36)
(0)
(5,695)(0)(5,418)16,088
10,669Effective from the fiscal year ending March 31, 2009, the JAT adopted the Accounting Standard for Quarterly
Financial Reporting (ASBJ Statement No. 12) and Guidance on the Accounting Standard for Quarterly Financial
Reporting (ASBJ Guidance No. 14). JAT prepares its Quarterly Consolidated Financial Statements in accordancewith the “Quarterly Consolidated Financial Accounting Rules.”(4) Notes on the premise of a going concern
There is nothing to report.

(5) Segment Information[Business Segment Information]
First Half of Fiscal 2008 (April 1, 2008 to September 30, 2008)(In million yen)
Facilities
Management

MerchandiseSales

19,41041,800

7,878

1,052
20,4631,401

366
42,166
4,127

1,065
8,943
195

Operating revenues(1) Sales to externalcustomers(2) Intersegment sales
and transfers
Total
Operating income (loss)

Food andBeverage[Sales by Business Segment]
First Half of Fiscal 2008 (April 1, 2008 to September 30, 2008)(In million yen)AmountFacilities Management

19,410Rent revenue

7,161

Facility user charges revenue

8,020

Others4,229

Merchandise Sales

41,800

Sales at stores in the domestic terminal

16,971

Sales at stores in the International Terminal

10,411Others

14,417

Food and Beverage

7,878

Restaurants sales

4,991

In-flight meals sales

2,480

Others405
Total

69,089(6) Notes on a significant change in shareholders’ equity

There is nothing to report.

- 10 -

Eliminations/Corporate

Consolidated

69,089–69,0892,484
71,573
5,724(2,484)(2,484)(1,824)–69,089
3,900

Total

[Reference]
Financial Statements for the First Half of Fiscal 2007

(1) Quarterly Consolidated Statements of Income (Condensed)(In million yen)First Half of FY2007
April 1, 2007‒September 30, 2007
Amount

Rates
(%)

I

Operating revenues

69,695100.0

Ⅱ

Cost of sales

35,21250.5

Gross profit
Selling, general and administrative
expenses

34,482

49.5

30,028

43.1

4,454

6.4

724

1.0

776

1.1

4,403

6.3

109

109

0.2

8

8

0.0

4,503

6.5

2,368

3.4

50

0.0

2,185

3.1

Ⅲ

Operating income
ⅣV

Non-operating income
1Interest income

202

Dividend income

91

3

Contribution for construction

167

4

Incentives

63

5

Miscellaneous revenue

381

Non-operating expenses
1
2
3Interest expense
Equity in losses of affiliatedcompanies
Miscellaneous expenses

488
66
221

Ordinary income
Ⅵ

Ⅶ

Extraordinary income
Loss (gain) from prior period
1 adjustments
Extraordinary loss
1

Loss on disposal of inventories
Income before income taxes
Income and other taxes

2,137

Adjustment of taxes

231

Minority interests
Net income- 11 -

(2) Quarterly Consolidated Statements of Cash Flows (Condensed)(In million yen)First Half of FY2007
Apr. 1, 2007‒Sep. 30, 2007
Amount

I

Ⅱ

Ⅲ

Ⅳ
V
Ⅵ
Ⅶ
Ⅷ

Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for employees’ retirement
benefits
Increase (decrease) in allowance for directors’ retirement benefits
Increase (decrease) in allowance for employees’ bonuses
Increase (decrease) in allowance for directors’ bonuses
Interest and dividends received
Interest paid
Equity in losses (earnings) of affiliates
Loss in retirement of tangible fixed assets
Decrease (increase) in accounts receivable
Decrease (increase) in inventories
Increase (decrease) in other current assets
Increase (decrease) in accounts payable
Increase (decrease) in other current liabilities
Increase (decrease) in other fixed liabilities
OthersSubtotalInterest and dividend income received
Interest expenses paid
Income and other taxes paid
Cash flows from operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of marketable securities
Proceeds from sales of marketable securities
Purchase of investment securities
Purchase of stocks of affiliates
Purchase of tangible fixed assets
Proceeds from sales of tangible fixed assets
Purchase of intangible fixed assets
Payments regarding for long-term prepaid expenses
Other payments in investments
Other proceeds from investments
Other
Cash flows from investing activities
Cash flows from financing activities
Repayments of long-term loans payable
Payments of dividends by parent company
Cash dividends paid to minority shareholders
OthersCash flows from financing activities
Effect of exchange rate change of cash and cash equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of term
Cash and cash equivalents of newly consolidated subsidiary
Cash and cash equivalents at end of term

- 12 -

4,503
7,297
(242)
(305)
198
(98)
(112)
488
66
163
40
108
(275)
(269)
(1,155)18
0
10,427110(482)(2,719)7,336(13)(1,394)
1,998(5)(1,530)(5,269)
2
(105)
(208)
(46)
22
10
(6,538)(4,800)
(502)
(36)
(1)
(5,340)0(4,542)
18,796100
14,353

(3) Segment Information[Business Segment Information]
First Half of Fiscal 2007 (April 1, 2007 to September 30, 2007)(In million yen)
Facilities
Management

Merchandise
Sales

18,841

42,959

7,894

Total

1,103
19,945347
43,306

Operating income (loss)

1,112

4,569

Operating revenues(1) Sales to externalcustomers(2) Intersegment sales
and transfers

Food andBeverage

Eliminations/Corporate

Consolidated

69,695–69,695

1,015
8,909

2,466
72,161(2,466)(2,466)–
69,695319

6,001(1,546)

4,454[Sales by Business Segment]
First Half of Fiscal 2007 (April 1, 2007 to September 30, 2007)(In million yen)AmountFacilities Management

18,841

Rent revenue

7,052

Facility user charges revenue

7,717

Others

4,072

Merchandise Sales

42,959

Sales at stores in the domestic terminal

17,124

Sales at stores in the International Terminal

10,857

Others

14,977

Food and Beverage

7,894

Restaurants sales

4,886

In-flight meals sales

2,599

Others408
Total

69,695- 13 -

Total